NOTICE OF MEETING
FOR APPROVAL OF DEVELOPMENT AGREEMENT WITH KWIK TRIP, INC. AND AUTHORIZATION OF ANNUAL APPROPRIATION TAX INCREMENT PAYMENTS
The City Council of the City of Sergeant Bluff, Iowa, will meet at the Council Chambers, 501 4th Street on November 12, 2024, at 5:30 p.m., at which time and place proceedings will be instituted and action taken to approve a Development Agreement between the City and Kwik Trip, Inc. (the “Company”), in connection with the construction by the Company of a new gas station and the corresponding construction of public infrastructure in the 1st Street Corridor Urban Renewal Area (the “Urban Renewal Area”), which Agreement provides for certain financial incentives in the form of incremental property tax payments (the “Payments”) to the Company in a total amount not exceeding $684,500 as authorized by Section 403.9 of the Code of Iowa.
The commitment of the City to make the Payments to the Company under the Development Agreement will not be a general obligation of the City, but such Payments will be payable solely and only from incremental property tax revenues generated within the 1st Street Corridor Urban Renewal Area. Some or all of the Payments under the Development Agreement may be made subject to annual appropriation by the City Council.
At the meeting, the City Council will receive oral or written objections from any resident or property owner of the City. Thereafter, the Council may, at the meeting or at an adjournment thereof, take additional action to approve the Development Agreement or may abandon the proposal.
This notice is given by order of the City Council of Sergeant Bluff, Iowa, in accordance with Section 403.9 of the Code of Iowa.
Danny Christoffers
City Clerk
Published in the Sergeant Bluff Advocate weekly newspaper, Thursday, Oct. 31, 2024. The SB-Advocate is the Official Newspaper for the City of Sergeant Bluff and is an Official Woodbury County newspaper. (10/31/2024/NP)
